(MTG) MGIC Investment Corporation’s Earnings Preview
MGIC Investment Corporation (MTG) is expected to release third quarter results on Oct 15. The Zacks Consensus Estimate for the company is a loss of $1.64 per share. The company’s financial results have...
View Article(MTG) MGIC Investment Corporation Reports Ugly Loss
MGIC Investment Corp.’s (MTG) third-quarter loss of $4.44 per share was wider than the Zacks Consensus Estimate of a loss of $1.64 per share. Last year, the company had reported a loss of $1.06 per...
View Article($BAC) Mortgage Bankers Association Reports Mortgage Delinquencies at Record...
The Mortgage Bankers Association (MBA) reported today that mortgage delinquencies hit a record high in the third quarter: “The delinquency rate for mortgage loans on one-to-four-unit residential...
View Article(BAC) Home Prices Continue to Rise
This morning the S&P Case-Schiller index was released. The Composite 20 index (C-20), which covers 20 of the largest metropolitan areas in the country rose by 0.27% on a seasonally adjusted basis...
View Article(BAC) Bank of America Sues Mortgage Insurer MGIC Investment Corporation
Bank of America (BAC) has filed a lawsuit with the Securities and Exchange Commission against Mortgage Guaranty Insurance Corporation, the principal mortgage insurance subsidiary of MGIC Investment...
View Article(MTG) MGIC Investment Corporation Sees Rating Action
Last week, rating agency Fitch withdrew its long-term issuer rating “B-“ of MGIC Investment Corp. (MTG) along with withdrawing the “BB-“ insurer financial strength rating of its subsidiary, Mortgage...
View Article(SHW) Existing Homes Sales Plunge
The National Association of Realtors reported this morning that in December Existing Homes Sales plunged 16.7% from November, to an annual rate of 5.45 million. That rate was, however, 15.0% below the...
View Article(CS) Case Schiller Indexes Show Home Prices Edge Up
In November, housing prices increased by 0.24% on a seasonally adjusted basis for both the Case Schiller (CS) Composite 10 (CS-10) and Composite 20 (CS-20) city indexes. The CS indexes are considered...
View Article(FNM) Initial Jobless Claims Greater Than Expected
We got mixed news in the Initial Claims for Unemployment Insurance report. This week, initial jobless claims fell by 8,000 to 470,000, and last week’s figure was revised down to 478,000 from 482,000....
View Article($FNM) Housing Prices Show Small Rise
The Case-Schiller housing price indexes were released this morning, and both the Composite 10 (C-10) and the Composite 20 (C-20) showed monthly increases of 0.3% on a seasonally adjusted basis. Since...
View Article($BAC) Initial Claims for Unemployment Insurance Edge Down
Initial Claims for Unemployment Insurance fell by 6,000 this week to 462,000. However, the 4-week moving average, which is generally considered a better measure given the high degree of volatility in...
View Article(PMI) PMI Group Wins Freddie Mac Approval
California-based PMI Group Inc.’s (PMI) principal operating subsidiary PMI Mortgage Insurance Co. (“MIC”), announced yesterday that it has won approval from Freddie Mac (FRE) for PMI Mortgage Assurance...
View Article(BAC) U.S. Initial Jobless Claims Rise Again
Initial claims for unemployment insurance rose sharply for the second straight week, rising 24,000 to 484,000. Just two weeks ago they were at 442,000. The four-week moving average, which is generally...
View Article(WFC) U.S. Initial Jobless Claims Pulls Back
Initial claims for unemployment insurance fell back towards the bottom of the “trading range” they have been stuck in since the start of the year. Last week they fell by 21,000 to 454,000, essentiality...
View Article(FNM) Case Schiller Home Price Index Shows U.S. Home Prices Rose in May
The Case Schiller Home Price Indexes were generally higher in May. On a seasonally adjusted basis (and there is significant seasonality to home prices, so looking at the unadjusted numbers the way that...
View Article(AXP) Stock Market News for January 20, 2011 – Market News
On Wednesday, markets sunk lower to close in the red after disappointing results from Goldman Sachs’ (NYSE:GS) and Cree Inc (NASDAQ:CREE). Results from these companies pressured financial and tech...
View Article(CMG) Stock Market News for February 14, 2011 – Market News
As Egypt’s President Hosni Mubarak stepped down following prolonged mass protests, the markets moved up and ended with modest gains on Friday. Encouraging economic data also helped investors gain in...
View Article(PMI) PMI Group Analyst Downgrades Shares to Underperform
We have recently downgraded PMI Group Inc. (PMI) to Underperform, as we expect losses and loss adjustment expenses from mortgage insurance operations, increased valuation allowances, lower premiums...
View Article(MTG) MTG Investment Corporation Downgraded to Neutral
We are downgrading our recommendation on the shares of MGIC Investment Corp. (MTG) to Neutral from Outperform, following the company’s first quarter 2011 results, which missed the earnings guidance due...
View Article(AAPL) 2011 Second Quarter Earnings Preview – Detailed
Earnings Preview 7/15/11 Second quarter earnings season is now under way, but things really start to move into high gear next week. There will be 348 firms reporting, and 108 of those are in the...
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